• Report: #125241

Complaint Review: Cornerstone America

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  • Submitted: Fri, December 31, 2004
  • Updated: Tue, February 22, 2005

  • Reported By:Tulsa Oklahoma
Cornerstone America
Tulsa, Oklahoma U.S.A.
  • Phone: 501-978-1051
  • Web:
  • Category: Liars

Cornerstone America ripped off even before working for them!!! Tulsa Oklahoma

*Author of original report: RETRACTION

*Consumer Comment: Facts behind working with Cornerstone

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I "interviewed" with a person named Nathan Huie, 501-978-1051, Sealy and Associates, Little Rock, Arkansas who portrayed himself as a leader with Cornerstone America who was setting up the new office in Tulsa.

I was subsequently sold on similar attributes this company boasts to everyone in their group interview: Honesty, integrity and its solid reputation in the industry. Boy, was I taken!!! I paid my $358 insurance license fee for Oklahoma and whatever other fees associated with testing and becoming an agent, then decided NOT to become an agent (after reading "Ripoff Report"!). I contacted this person within a few days of paying him and asked for my money back. Seems reasonable since I received nothing for this payment and had not even been hired or appointed by the company he was representing.

I was told by him he was not the "human resources department" and to contact the 'home office' from the number on the Cornerstone America wesbite. Well folks, there's no number on the website and this person is skirting paying my 'fees' back. Now he won't even answer the phone...I'd warn ANYONE out there to do the research I didn't do prior to signing on with these jokers because they could care less about honesty and integrity. I WILL get my money back one way or another. If you're a small business owner, beware of Cornerstone America. Incidentally, this is a sister company of MEGA Life.

Mike
Tulsa, Oklahoma
U.S.A.

This report was posted on Ripoff Report on 12/31/2004 02:25 PM and is a permanent record located here: http://www.ripoffreport.com/r/Cornerstone-America/Tulsa-Oklahoma/Cornerstone-America-ripped-off-even-before-working-for-them-Tulsa-Oklahoma-125241. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

RETRACTION

AUTHOR: Mike - (U.S.A.)

A few weeks after I posted this complaint, the person I named above sent me my refund back in the original form I paid it. I am thankful not to have gotten involved, however, the person DID enentually honor his word by refunding my sales/licensing fee. I appreciate that, though it did take a lot longer than it could/should have. I'm over it.
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#2 Consumer Comment

Facts behind working with Cornerstone

AUTHOR: Steve - (U.S.A.)

Well, I posted my experience on another complaint. But what concerns me I have not seen answered here, is their benefits program or bonuses they pay based on performance of the agents.

From what we understand through materials they gave us, is there are 3 types of stock bonus type programs (ASAP's). You gain a certain amount of shares for your performance as a bonus- but it is not a straight true cash bonus as other companies would pay from how we read things.

Meaning, if we understand correctly, you work hard day in and day out and you are on straight commission. What the company honors you with bonuses periodically into one of the 3 types of SAP's (stock acumulation plans) kind of looks "weird". I mean we read that in one instance 25% of your bonus earned goes to one SAP plan and you can't touch that. Other bonuses earned go to another, and still a 3rd plan allows you to make cash deposits (buy more UICI stock) which they say they will match 100%. Just like the others, you cannot touch them either- NOT unless you have evsted 10 years cleared service can you then benefit 100% from the bonus you earned from your hard work efforts over those years.

There was a chart provided that showed from 1-10 years what your vestednesss was, and a bonus is suppsoed to be a bonus, right? Because if you are working hard to earn this bonus, and have no real say over how much or what part you can have, you never get all of it. You are "forced" in another word to have that further placed in a stock purchase program from UICI which you cannot touch for many years, or else will lose a good part or all of your bonuses depending how long you stayed on with Cornerstone. And what also is stated, that should you not meet full 100% vested time (10 years) the difference between what your vested level was and what is left accumulated from your bonuses in these SAP programs, is then distributed to the balance of ongoing agents of that firm. Is this right or does it make sense to anyone out there? Because I have no problem with a savings plan or IRA or host of other investment options for self-growth long term. What is the concern, is if you earn something from your hard work & efforts, and another party says you cannot have all your bonus we promised, as you must place part of that into our private stock program or else you will be penalized; well this statement just seems to violate a few federal wage & hour laws for one, not withstanding what the SEC laws would be if such a scenario truly exists with Conerstone "playing" with anther's stock they earned giving that to others without consent of the true purchaser/owner.

Anyone else wonder about this or can clarify this better from what we understood from the materials? ike I said in another post, I read everything they gave me. But it is very surface and limited stuff. Nothing of depth nor can I get direct answers when we have tried to call Mid-West Life or other parts of the UICI family.
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